UAE’s Nuclear Energy PPA signed between Barakah One Company and ADWEC

ABU DHABI, 1st November, 2016 (WAM) — The Barakah One Company, a subsidiary of the Emirates Nuclear Energy Corporation, ENEC, and the Korea Electric Power Corporation, KEPCO, announced today the signature of a Power Purchase Agreement, PPA, for the purchase of electricity generated at the Barakah Nuclear Energy Plant with the Abu Dhabi Water and Electricity Company, ADWEC.

The agreement was signed in Abu Dhabi by Khaldoon Al Mubarak on behalf of Barakah One Company and Abdullah Musleh Al Ahbabi, Chairman of the Abu Dhabi Water and Electricity Authority, ADWEA, on behalf of ADWEC.

The agreement establishes the contractual framework between the two entities for nuclear-generated safe, clean, efficient and reliable electricity produced at Barakah. The electricity produced by the four Barakah Units plays a strategic role in powering the growth of the UAE, aligning the nation to the COP21 sustainability goals, and reducing greenhouse gas emissions in the energy generation sector.

Mr. Al Mubarak said, “Since 2009 we focused on the safe delivery of the UAE Peaceful Nuclear Energy Programme, and today is another major step towards diversifying the UAE’s energy mix and making the nation more energy secure and environmentally sustainable. The Barakah Plant will soon provide the nation with the clean energy it needs to grow, through an established, robust and technologically advanced nuclear energy industry.”

“This is a pivotal agreement in the UAE energy sector, and the result of a close collaboration between Barakah One, ENEC and ADWEA. Strong stakeholder partnerships are integral to the successful delivery of safe, clean and reliable nuclear energy to power the UAE grid,” he added.

Commenting on the agreement, Mr. Al Ahbabi said, “The signing of this agreement shows the on-going transformation of Abu Dhabi’s energy mix. We welcome the addition of safe and sustainable low-carbon nuclear energy to our increasingly diverse power grid. Securing energy from a variety of sources allows us to provide Abu Dhabi with the supply of power and water it needs to sustain its growing economy.”